Tribune Publishing Co (NASDAQ:TPCO) Receives Average Rating of “Strong Buy” from Brokerages

Tribune Publishing Co (NASDAQ:TPCO) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus price objective of $18.00 for the company and are forecasting that the company will post ($0.02) earnings per share for the current quarter, according to Zacks. Zacks has also given Tribune Publishing an industry rank of 150 out of 256 based on the ratings given to related companies.

A number of brokerages have recently commented on TPCO. Noble Financial reiterated a “buy” rating and set a $19.00 price target on shares of Tribune Publishing in a report on Monday, August 12th. Zacks Investment Research lowered Tribune Publishing from a “buy” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, TheStreet lowered Tribune Publishing from a “c-” rating to a “d+” rating in a research note on Monday, May 20th.

Shares of TPCO stock traded up $0.08 during trading hours on Thursday, reaching $7.55. 2,748 shares of the company’s stock were exchanged, compared to its average volume of 77,131. Tribune Publishing has a fifty-two week low of $7.00 and a fifty-two week high of $17.29. The business has a fifty day moving average price of $8.05 and a 200-day moving average price of $10.07. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.32.

Tribune Publishing (NASDAQ:TPCO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Tribune Publishing had a positive return on equity of 4.93% and a negative net margin of 0.34%. The company had revenue of $250.33 million during the quarter. On average, equities analysts predict that Tribune Publishing will post 0.21 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of TPCO. BNP Paribas Arbitrage SA acquired a new position in shares of Tribune Publishing in the second quarter valued at $33,000. FMR LLC acquired a new position in shares of Tribune Publishing in the fourth quarter valued at $39,000. Legal & General Group Plc acquired a new position in shares of Tribune Publishing in the fourth quarter valued at $43,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Tribune Publishing in the fourth quarter valued at $48,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Tribune Publishing by 3,134.0% in the second quarter. Nisa Investment Advisors LLC now owns 7,600 shares of the company’s stock valued at $61,000 after purchasing an additional 7,365 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Tribune Publishing Company Profile

Tribune Publishing Company, a media company, publishes newspapers worldwide. The company operates in two segments, M and X. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers' Web presence for small to medium size businesses.

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